Web3 infrastructure company Blockdaemon has launched Blockdaemon Wallet for institutional treasury, trading and custodial services.
The new digital service enables banks, custodians and exchanges to self-host digital assets in online wallets in an effort to optimise liquidity and customer service while minimising operational expenses.
Blockdaemon Wallet has been designed to provide security against both external and internal threats and increase control over transaction approvals. It is self-hosted to give users full and exclusive control over the wallet ecosystem.
Recent events in centralised finance have resulted in the collapse of some large firms, which have drawn more attention to the risks that come with losing direct control of assets, says Blockdaemon. As a result, individuals who own digital assets have fled centralised platforms to self-sovereign wallets and hardware devices, it adds.
Konstantin Richter, CEO and founder of Blockdaemon, says: “It’s becoming increasingly important for both individuals and institutions to have the ability to self-custody their digital assets without counterparty risk.
“In the past, institutions were forced to compromise on control and security for their digital assets, but not anymore. The Blockdaemon Wallet gives institutions the power to self-custody without compromising liquidity, security or regulatory compliance.”
